Uncertainty reigns in New Zealand politics as no one knows who will succeed in forming the next coalition government. Prime Minister Jim Bolger and opposition Labour Party leader Helen Clark are entering a bidding war to win the heart of Winston Peters, head of the right-wing New Zealand First party. It is unfortunate for New Zealanders that Mr Peters has the swaying power. His all but certain participation in government is bad omen for the nation's long-term economic development because of his anti-immigration, anti-foreign investment platform. No doubt Mr Peters will try to extract as many as possible concessions from Mr Bolger and Ms Clark. If Ms Clark gains the support of Mr Peters, Prime Minister Bolger's free-market reforms could be put to a halt, or reversed. Labour campaigned on wealth redistribution, narrowing the gap between the rich and poor. The blow to the country's economic development could be reduced if Mr Bolger brings Mr Peters over to his camp. But it seems less likely. One can only hope that Mr Peters puts ill feelings for Mr Bolger behind him. Mr Peters, a former minister, quit Mr Bolger's party three years ago accusing it of corruption. The sooner Mr Peters and his caucus make up their minds, the better, because foreign investors will put their investment plans on hold until a clearer picture emerges.